China's Tencent overtakes Facebook in market value

Tencent's market capitalisation exceeded that of Facebook on Tuesday, a day after it became the first Chinese technology company to be valued at over $500 billion. The company's market capitalisation settled at $522 billion, surpassing the social network giant's $519.4 billion. Tencent is now the world's fifth-most valuable company, only behind Apple, Alphabet, Microsoft, and Amazon.